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August 21, 2012
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N.J. company gets license to make wave power

REEDSPORT — Wave power developers planning a project off the Oregon Coast now have the nation’s only federal permit to develop a commercial wave power park. Ocean Power Technologies Inc., based in Pennington, N.J., said Monday it will deploy the first buoy for testing sometime this year off Reedsport. Charles Dunleavy, CEO of the publicly held company, said it hopes to have the country’s first commercial wave power park online within two or three years of securing full financing. The project will include 10 buoys anchored 2 1/2 miles off the coast and covering about 30 acres. They will produce …

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The News-Review Updated Aug 23, 2012 08:49AM Published Aug 23, 2012 08:50AM Copyright 2012 The News-Review. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.